NextCure to reverse merge with Avere; Avere holders get ~98% of combined co; $320M PIPE

NextCure, Inc.

NextCure (NXTC) to acquire Avere Therapeutics via reverse merger; Avere stockholders will own ~98.11% of combined company; NextCure stockholders ~1.89%.
Concurrent $320M private placement from institutional investors into Avere; condition of at least $150M proceeds at close.
NextCure to reduce workforce by substantial majority; expects ~$1.9M one-time charges in Q3 2026.
NextCure halts new patient enrollment in SIM0505 ADC study in US; opts out of cost-sharing for LNCB74 ADC; not due to safety/efficacy.
Pre-merger NextCure stockholders to receive CVRs entitling them to 90% of proceeds from future monetization of legacy assets.

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